09:54     YANION INT'L<00082> - Announcement & Resumption (21)                

    owned as to approximately 40.8% by Yingkou Middle                         
    Plate Factory, 21.7% by Minmetals Development, as to                      
    20% by China Minmetals and as to the remaining balance                    
    of approximately 17.5% by five other Independent                          
    Third Parties and the registered capital after the                        
    completion of the Capital Increase of which will be                       
    owned as to 52.6% by Yingkou Steel JV, 36.6% by                           
    Minmetals Group, 3.9% by Yingkou Middle Plate Factory                     
    and the remaining 6.9% by five Independent Third                          
    Parities after the Capital Increase                                       
                                                                              
    "Stock Exchange"        The Stock Exchange of Hong Kong                   
    Limited                                                                   
                                                                              
    "Takeovers Code"        the Code on Takeovers and Mergers of              
    Hong Kong                                                                 
                                                                              
    "US$"   United States dollars, the lawful currency of                     
    the United States of America                                              
                                                                              
    "Vendors"       Mr. Chen Nien Chong and Mr. Tran Dinh                     
                                                                              
    "Yingkou Middle Plate Factory"  * (Yingkou                                
    Middle Plate Factory), a company established in the                       
    PRC and is wholly-owned by the Local Large Enterprise                     
    Supervisory Committee of the State Council (*), a department of           
    Yingkou City, Liaoning Province, the PRC                                  
                                                                              
    "Yingkou Steel JV"      * (Yingkou New                                    
    Steel Rolling Limited), a sino-foreign equity joint                       
    venture established in the PRC on 17 December 2004,                       
    the entire registered capital of which is owned as                        
    to approximately 77.4% by Guohua International and                        
    the remaining approximately 22.6% by Yingkou Middle                       
    Plate Factory                                                             
                                                                              
    "%"     per cent.                                                         
                                                                              
    As at the date of this announcement, the Board                            
    comprised six executive Directors, Messrs. Cheng Shu                      
    Wing, Fung Chi Kin, Guo Duen How, Tom, Ho Yuk Ming,                       
    Hugo, Kao Ying Lun and Wu Fred Fong, and three                            
    independent non-executive Directors, Messrs. Choy                         
    Tak Ho, Tsui Chun Chung, Arthur and Wong Chun Wah.                        
                                                                              
    By order of the Board of                                                  
    Yanion International Holdings Limited                                     
    Fung Chi Kin                                                              
    Executive Director                                                        
                                                                              
    Hong Kong, 7 March 2005                                                   
                                                                              
    *  for identification purpose only                                        
       For the Chinese name, please refer to the press announcement today.